Hi ryrie ...
I went looking for the part you mentioned and saw, on page 12 the stipulation performance rights cannot vest unless there is a minimum of 10% growth year on year.
My knowledge of company accounts/incentives/everything is extremely limited and my maths is not reliable but I don’t see the $4.00 (even though I expect NRW will get there ....
The 10% growth required in share price (as I see it) requires a price of at least $2.47 + $0.247 on June 30, 2020 ( $2.717)
Then a price of $2.717 + approx $0.272 by June 30 2021 ( $2.99)
Then a price of around $3.30 in 2022, and $3.63 in 2023.
Am I looking at the right page ?
On behalf of myself and any other less noisy ones who also don’t understand, I would appreciate you (or anyone else explaining where I am in error )
Cheers
PS Here’s a photo of page 12 - the one I thought was relevant;
View attachment 1791983
(20min delay)